All Forum Posts by: Tom Grieshammer

@Todd Anderson

Do you mean buy a brand new duplex? If so, I’m not sure there are too many new duplex’s (or houses of any kind) in my price range in Cleveland. I assume you aren’t talking about developing myself as that would be very complicated. Perhaps you mean some other form of new construction exposure that I’m not familiar with. If so, what you are describing sounds interesting and I’d like to hear more about it. Thanks

@Samuel Diouf

That makes sense. However, in my particular situation, I am planning on house hacking next year when I decide where I want to live, so this would be kind of a one off before starting a traditional LTR portfolio and this way it would help me narrow down my buy as a beginner whose overwhelmed by options. Does that context change your opinion or do you still think it will be more work and not worth it compared to LTR? Thanks

@Shawn Ackerman

I would have limited equity on a turnkey asset? I thought I would have the equity but miss out on cash flow because it’s turnkey. I assume it would be better to short term rentals if I’m going to have a passive approach so it it more profitable.

@James Wise

I have enough time to self manage a long term rental. But I because I coach, depending on the time of year, I’m too busy to run a hospitality business like an Airbnb. But does the additional income from short term rentals make it worth it to hire a property manager and still come out to more than long term?

I have 120,000 that I want to maximize long term profits. I’m a full time teacher and swim coach so I can’t go into real estate full time. Should I invest in a syndication instead of buy my own investment property? Can I even invest in a syndication with my relatively low income as a teacher/coach. 

What is the profit to effort ratio between self managing a long term rental and hiring out a short term rental? Are there other important considerations I should keep in mind with a short term rental property manager? Any good recommendations? Thanks

I’m 26 and have saved up 120,000 working as a full time teacher and swim coach, so I don’t have a ton of time. I’d like to leverage my savings to be able to retire early. For my first investment property, I’m looking at duplexes in the Cleveland heights and Lakewood areas and am wondering if I would get the best profit to effort ratio from self managing a long term rental or hiring a property manager and using it as a short term rental. Hiring out would decimate my cash flow on a long term rental and I don’t have the time to run a hospitality business. Any advice or considerations would be appreciated.

@Dalton Summers

I’m not opposed to getting a primary residence first. I’m just not sure if it really makes financial sense, even though I’d be losing like an additional 50,000 in liquidity, since I’ll be able to save more living at home and that loss in liquidity at least goes towards equity so I could be cash flow positive year 1. I’d house hack next year either way.

Yeah the lack of quads is frustrating. In my perfect world I’d house hack a brick quad in Cleveland Heights or Lakewood area.

Ok. This has swayed me against the D class neighborhoods. And I hear what you’re saying about getting a primary residence first. But with my situation, I’m switching jobs so I’d prefer to wait to know where I work before I get place to live for a year. And even though an investment property will eat up a lot of my liquidity rn I’ll be able to save a good amount of money living at home for another year. Am I missing something that still makes a primary residence as a first property more attractive? Thanks for your help.